I have attached a Condominium Renters policy sent to me by GEICO, underwritten by American Bankers Insurance.
The policy states that it covers personal property, but does not mention improvements.
When there is no mention of “improvements” in the policy, would the personal property coverage still cover the improvements made by the tenant or would coverage for improvements need to be specifically mentioned?
Hawaii Subscriber
In your policy under Additional Coverages it has section 10., Building Additions and Alterations. This is designed to provide coverage for improvements or betterments made at the expense of the insured to the parts of the premises used exclusively by the insured. This is where you find coverage for anything the tenant modifies to the actual building itself.
Coverage for contents alone, if the policy did not have the Additional Coverages section, would not provide coverage. Contents are moveable property; anything permanent to the building becomes part of the building once the resident leaves.
Christine G. Barlow, CPCU
Christine G. Barlow, CPCU, is Executive Editor of FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Christine has over thirty years’ experience in the insurance industry, beginning as a claims adjuster then working as an underwriter and underwriting supervisor handling personal lines. Christine regularly presents and moderates webinars on a variety of topics and is an experienced presenter.